Nifty
:
23053.10
Sensex
:
74459.53
116.35 (0.51%)
308.49 (0.42%)
Nifty
Sensex
:
:
23053.10
74459.53
116.35 (0.51%)
308.49 (0.42%)

Bharat Forge Ltd.

Forgings

Rating :
62/99

BSE: 500493 | NSE: BHARATFORG

NSE BSE
1720.00
30-Oct-2026
  • Open
  • High
  • Low
  • Previous Close
  •  1767.9
  •  1767.9
  •  1705.6
  •  1766.30
  • Volume
  • Traded Value (lacs)
  • 52 Week High
  • 52 Week Low
  •  1061749
  •  1824067897.5
  •  2295
  •  1299.1

Stock Summary

  • Market Cap(Crs)
  • Stock P:E
  • Face Value
  • 84,344.55
  • 119.43
  • 2
  • Enterprise Value(Crs)
  • Dividend Yield
  • Price:Book Value
  • 90,216.99
  • 0.49%
  • 7.34

Shareholding Pattern

  • Promoter
  • Corporate
  • Public
  • 43.12%
  • 0.48%
  • 6.87%
  • FII
  • DII
  • Others
  • 15.2%
  • 29.06%
  • 5.27%

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 10.15
  • 9.95
  • 2.35

EBITDA CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 8.75
  • 8.01
  • 2.50

PAT CAGR (%)

  • 10 Years
  • 5 Years
  • 3 Years
  • 4.56
  • -0.04
  • 4.32

P:E (Median)

  • 8 Years
  • 5 Years
  • 3 Years
  • 58.99
  • 65.92
  • 70.26

P:BV (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 6.19
  • 7.13
  • 8.07

EV:EBITDA (Average)

  • 8 Years
  • 5 Years
  • 3 Years
  • 23.35
  • 23.86
  • 26.03

Earnings Forecasts:

(Updated: 31-10-2026)
Description
2026
2027
2028
2029
Adj EPS
22.58
33.58
47.32
56.39
P/E Ratio
76.17
51.22
36.35
30.50
Revenue
16811.7
19800.3
22486
24832.7
EBITDA
2910.84
3503.07
4388.01
5026.25
Net Income
1079.66
1568.49
2171.08
2582.09
ROA
5.1
8.02
9.89
10.9
P/B Ratio
8.58
7.35
6.44
5.57
ROE
11.47
15.55
18.95
19.64
FCFF
33.94
732.46
1521.48
2177.04
FCFF Yield
0.04
0.81
1.69
2.41
Net Debt
5144.75
4614.05
3920.76
2811.08
BVPS
200.38
234.04
267.14
308.64

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone
Description
Jun 26
Jun 25
Var%
Mar 26
Mar 25
Var%
Dec 25
Dec 24
Var%
Sep 25
Sep 24
Var%
Net Sales
4,639.94
3,908.75
18.71%
4,528.04
3,852.60
17.53%
4,342.93
3,475.54
24.96%
4,031.93
3,688.51
9.31%
Expenses
3,930.48
3,235.85
21.47%
3,749.83
3,171.28
18.24%
3,593.03
2,851.16
26.02%
3,306.27
3,041.23
8.71%
EBITDA
709.46
672.90
5.43%
778.21
681.33
14.22%
749.90
624.38
20.10%
725.65
647.27
12.11%
EBIDTM
15.29%
17.22%
17.19%
17.68%
17.27%
17.97%
18.00%
17.55%
Other Income
57.25
49.72
15.14%
52.97
62.10
-14.70%
42.48
38.37
10.71%
53.51
61.65
-13.20%
Interest
89.71
82.22
9.11%
84.40
88.00
-4.09%
76.64
95.96
-20.13%
80.09
109.81
-27.06%
Depreciation
263.28
226.10
16.44%
255.09
223.76
14.00%
248.84
218.25
14.02%
240.89
213.35
12.91%
PBT
55.71
414.31
-86.55%
392.96
426.37
-7.84%
411.19
348.54
17.97%
458.19
385.76
18.78%
Tax
134.33
127.12
5.67%
158.69
141.48
12.16%
134.42
134.22
0.15%
157.55
141.88
11.04%
PAT
-78.63
287.19
-
234.27
284.90
-17.77%
276.77
214.31
29.14%
300.64
243.88
23.27%
PATM
-1.69%
7.35%
5.17%
7.39%
6.37%
6.17%
7.46%
6.61%
EPS
-1.88
5.93
-
4.86
5.90
-17.63%
5.53
4.45
24.27%
6.26
5.23
19.69%

Annual Results

Consolidated Figures in Rs. Crores /

Standalone
Description
TTM
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Net Sales
17,542.84
16,811.65
15,122.80
15,682.07
12,910.26
10,461.08
6,336.26
8,055.84
10,145.73
8,357.69
6,396.14
Net Sales Growth
17.54%
11.17%
-3.57%
21.47%
23.41%
65.10%
-21.35%
-20.60%
21.39%
30.67%
 
Cost Of Goods Sold
7,961.94
7,589.58
6,594.33
7,379.19
5,961.36
4,215.96
2,634.16
3,576.53
4,214.34
3,281.12
2,435.78
Gross Profit
9,580.90
9,222.07
8,528.46
8,302.88
6,948.91
6,245.12
3,702.11
4,479.31
5,931.40
5,076.57
3,960.37
GP Margin
54.61%
54.86%
56.39%
52.95%
53.82%
59.70%
58.43%
55.60%
58.46%
60.74%
61.92%
Total Expenditure
14,579.61
13,918.28
12,505.71
13,124.13
11,208.15
8,493.04
5,474.52
6,945.51
8,125.00
6,640.89
5,145.10
Power & Fuel Cost
-
880.84
817.23
766.50
827.88
576.84
396.10
481.43
591.89
491.55
405.00
% Of Sales
-
5.24%
5.40%
4.89%
6.41%
5.51%
6.25%
5.98%
5.83%
5.88%
6.33%
Employee Cost
-
2,103.42
1,869.89
1,860.00
1,563.10
1,464.68
1,071.06
1,195.46
1,246.30
1,089.20
930.92
% Of Sales
-
12.51%
12.36%
11.86%
12.11%
14.00%
16.90%
14.84%
12.28%
13.03%
14.55%
Manufacturing Exp.
-
1,827.45
1,677.93
1,766.83
1,464.66
1,260.38
747.76
879.09
1,129.96
974.10
750.44
% Of Sales
-
10.87%
11.10%
11.27%
11.34%
12.05%
11.80%
10.91%
11.14%
11.66%
11.73%
General & Admin Exp.
-
375.79
349.01
260.00
200.39
162.76
148.39
119.89
154.03
125.16
110.31
% Of Sales
-
2.24%
2.31%
1.66%
1.55%
1.56%
2.34%
1.49%
1.52%
1.50%
1.72%
Selling & Distn. Exp.
-
490.56
496.90
473.39
635.11
445.31
179.03
261.36
305.94
209.34
161.22
% Of Sales
-
2.92%
3.29%
3.02%
4.92%
4.26%
2.83%
3.24%
3.02%
2.50%
2.52%
Miscellaneous Exp.
-
650.63
700.40
618.22
555.66
367.12
298.03
431.75
482.54
470.42
161.22
% Of Sales
-
3.87%
4.63%
3.94%
4.30%
3.51%
4.70%
5.36%
4.76%
5.63%
5.49%
EBITDA
2,963.22
2,893.37
2,617.09
2,557.94
1,702.11
1,968.04
861.74
1,110.33
2,020.73
1,716.80
1,251.04
EBITDA Margin
16.89%
17.21%
17.31%
16.31%
13.18%
18.81%
13.60%
13.78%
19.92%
20.54%
19.56%
Other Income
206.21
231.98
290.62
231.84
238.27
243.80
168.90
187.86
230.00
142.01
119.28
Interest
330.84
323.35
417.49
495.58
298.62
160.41
107.73
171.33
127.22
106.53
99.96
Depreciation
1,008.10
970.92
873.62
848.20
735.59
730.30
612.16
543.34
513.16
460.69
452.05
PBT
1,318.05
1,831.09
1,616.60
1,446.00
906.17
1,321.13
310.75
583.53
1,610.36
1,291.59
818.32
Tax
584.99
577.77
542.55
528.83
318.56
303.45
101.51
112.46
566.38
441.79
249.17
Tax Rate
44.38%
34.46%
37.17%
36.89%
37.03%
21.47%
2245.80%
22.29%
35.17%
36.93%
26.32%
PAT
733.05
1,079.66
941.15
951.13
528.37
1,081.76
-126.38
349.84
1,032.18
762.45
691.50
PAT before Minority Interest
723.66
1,089.40
913.27
910.16
508.39
1,077.06
-126.97
349.25
1,032.60
753.97
697.60
Minority Interest
-9.39
-9.74
27.88
40.97
19.98
4.70
0.59
0.59
-0.42
8.48
-6.10
PAT Margin
4.18%
6.42%
6.22%
6.07%
4.09%
10.34%
-1.99%
4.34%
10.17%
9.12%
10.81%
PAT Growth
-28.85%
14.72%
-1.05%
80.01%
-51.16%
-
-
-66.11%
35.38%
10.26%
 
EPS
15.00
22.09
19.26
19.46
10.81
22.14
-2.59
7.16
21.12
15.60
14.15

Results Balance Sheet

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Shareholder's Funds
9,579.84
9,253.33
7,170.18
6,705.53
6,570.67
5,415.12
5,219.74
5,376.06
4,651.71
4,116.37
Share Capital
95.63
95.63
93.13
93.13
93.13
93.13
93.13
93.13
93.13
46.57
Total Reserves
9,471.48
9,144.97
7,064.32
6,608.66
6,475.92
5,321.99
5,126.61
5,282.93
4,558.58
4,069.80
Non-Current Liabilities
2,909.49
1,974.59
2,738.54
3,216.20
2,750.86
3,123.23
2,263.30
2,063.57
1,541.76
1,508.17
Secured Loans
760.76
659.95
448.03
459.54
486.69
454.21
0.67
10.66
191.05
242.00
Unsecured Loans
1,051.60
659.42
1,410.95
1,291.73
1,300.65
1,762.96
1,874.06
1,667.86
935.18
817.07
Long Term Provisions
290.66
219.22
180.68
141.17
176.07
192.31
172.18
134.29
132.09
131.54
Current Liabilities
9,581.44
8,703.01
9,280.11
8,276.86
6,114.22
4,517.73
3,967.39
4,108.81
3,753.88
3,206.16
Trade Payables
2,995.66
2,344.21
2,262.12
2,151.34
1,631.37
1,206.84
1,030.93
1,366.44
1,326.79
846.33
Other Current Liabilities
1,585.38
1,854.48
1,801.93
1,633.36
1,001.86
789.34
777.67
516.72
742.14
1,025.92
Short Term Borrowings
4,750.73
4,270.12
5,005.14
4,353.40
3,339.44
2,362.59
2,003.63
2,094.33
1,584.82
1,262.18
Short Term Provisions
249.66
234.19
210.91
138.75
141.55
158.96
155.16
131.32
100.13
71.73
Total Liabilities
22,047.75
19,898.18
19,183.95
18,234.66
15,491.83
13,087.78
11,482.42
11,578.28
9,976.77
8,840.74
Net Block
8,186.83
6,598.75
6,309.09
6,160.62
4,869.70
4,749.68
4,001.71
3,624.31
3,499.41
3,276.78
Gross Block
15,510.25
12,367.14
11,040.21
10,267.65
8,246.20
7,675.30
6,401.68
5,551.78
4,939.06
7,232.81
Accumulated Depreciation
7,323.42
5,648.08
4,731.12
4,107.03
3,376.50
2,917.17
2,399.97
1,927.47
1,439.64
3,956.02
Non Current Assets
10,844.90
9,665.83
9,168.44
9,232.64
7,560.87
6,873.34
6,211.37
6,039.38
5,395.90
4,620.69
Capital Work in Progress
1,298.37
1,731.72
991.24
701.16
1,124.76
900.11
1,142.67
830.68
343.78
453.18
Non Current Investment
564.58
709.74
823.50
1,518.77
695.73
529.58
551.94
983.36
1,117.14
368.39
Long Term Loans & Adv.
515.44
448.69
932.48
745.24
565.32
464.40
407.58
386.44
308.93
332.44
Other Non Current Assets
251.52
148.77
111.84
106.57
305.08
229.27
107.18
214.29
126.36
189.61
Current Assets
11,202.86
10,232.34
10,015.51
9,002.02
7,930.96
6,214.44
5,271.05
5,538.90
4,580.87
4,218.38
Current Investments
1,173.92
1,352.96
1,025.48
1,050.06
1,908.02
2,077.18
1,066.08
540.30
384.00
823.17
Inventories
4,052.78
3,578.44
3,216.08
3,126.25
2,710.46
1,793.94
1,734.70
1,844.67
1,359.89
1,075.20
Sundry Debtors
3,909.80
2,899.61
3,167.15
3,087.46
2,162.30
1,409.58
1,493.85
2,147.84
1,937.14
1,341.07
Cash & Bank
989.94
1,291.38
1,689.92
1,039.52
603.02
472.86
575.11
475.46
304.06
336.08
Other Current Assets
1,076.41
293.06
361.49
312.96
547.17
460.89
401.31
530.63
595.77
642.85
Short Term Loans & Adv.
776.98
816.90
555.39
385.77
246.93
238.57
260.23
332.59
293.04
224.14
Net Current Assets
1,621.42
1,529.34
735.40
725.16
1,816.74
1,696.71
1,303.66
1,430.09
826.99
1,012.21
Total Assets
22,047.76
19,898.17
19,183.95
18,234.66
15,491.83
13,087.78
11,482.42
11,578.28
9,976.77
8,839.07

Cash Flow

Consolidated Figures in Rs. Crores /

Standalone
Description
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Cash From Operating Activity
1,486.64
1,796.34
1,664.39
1,294.47
505.85
1,020.02
1,521.95
911.47
967.36
1,051.67
PBT
1,676.64
1,459.53
1,433.68
860.38
1,413.53
4.52
504.61
1,610.36
1,196.14
946.79
Adjustment
1,278.36
1,287.55
1,172.83
887.66
671.70
725.24
789.68
526.02
561.64
399.18
Changes in Working Capital
-903.73
-345.74
-423.60
-36.34
-1,226.86
383.66
460.74
-674.66
-397.87
-21.43
Cash after chg. in Working capital
2,051.27
2,401.35
2,182.91
1,711.70
858.38
1,113.42
1,755.04
1,461.71
1,359.91
1,324.55
Interest Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Tax Paid
-564.63
-605.01
-518.51
-417.23
-352.53
-93.40
-233.09
-550.25
-392.55
-272.87
Other Direct Exp. Paid
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Extra & Other Items
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Cash From Investing Activity
-1,033.03
-1,964.33
-666.75
-1,671.33
-690.05
-1,511.06
-1,132.24
-1,175.09
-814.16
-684.38
Net Fixed Assets
-295.52
-843.15
-425.50
-417.07
-143.23
-233.99
-692.38
-853.79
1,850.50
-406.74
Net Investments
-773.30
-1,579.74
-186.00
-379.56
-330.50
-1,216.44
-160.70
-131.38
-288.66
-350.90
Others
35.79
458.56
-55.25
-874.70
-216.32
-60.63
-279.16
-189.92
-2,376.00
73.26
Cash from Financing Activity
-441.99
-569.70
-202.69
280.27
310.17
578.29
-381.42
367.65
-314.42
-400.66
Net Cash Inflow / Outflow
11.63
-737.69
794.96
-96.60
125.96
87.26
8.29
104.03
-161.22
-33.37
Opening Cash & Equivalents
621.03
1,315.31
508.71
558.42
447.31
312.62
286.21
202.98
272.31
357.90
Closing Cash & Equivalent
847.88
621.03
1,315.31
508.71
558.42
447.31
312.62
286.21
202.98
324.53

Financial Ratios

Consolidated /

Standalone
Description
Mar 26
Mar 25
Mar 24
Mar 23
Mar 22
Mar 21
Mar 20
Mar 19
Mar 18
Mar 17
Book Value (Rs.)
200.11
193.28
153.73
143.94
141.09
116.31
112.11
115.47
99.91
88.41
ROA
5.19%
4.67%
4.86%
3.01%
7.54%
-0.79%
3.40%
9.69%
8.02%
7.71%
ROE
11.58%
11.14%
13.13%
7.66%
17.97%
-1.82%
7.40%
20.82%
17.21%
17.53%
ROCE
12.46%
12.43%
13.75%
8.75%
13.61%
1.12%
7.13%
20.07%
17.20%
14.92%
Fixed Asset Turnover
1.20
1.31
1.48
1.40
1.32
0.90
1.35
1.93
1.38
0.94
Receivable days
74.33
72.43
72.16
74.01
61.85
83.63
82.50
73.48
71.10
75.86
Inventory Days
83.30
81.12
73.17
82.29
78.00
101.63
81.09
57.64
52.81
57.31
Payable days
128.40
127.48
109.15
115.80
122.86
155.04
63.24
59.42
60.28
59.51
Cash Conversion Cycle
29.22
26.07
36.19
40.50
17.00
30.22
100.34
71.70
63.64
73.66
Total Debt/Equity
0.72
0.68
1.04
1.01
0.86
0.92
0.83
0.75
0.70
0.76
Interest Cover
6.16
4.49
3.90
3.77
9.61
1.04
3.95
13.66
12.23
10.47

Annual Reports:

FY 2026
FY 2025
FY 2024
FY 2023
FY 2022
FY 2021
FY 2020
FY 2019
FY 2018
FY 2017

News Update:


  • Bharat Forge secures long-term contract with Pratt & Whitney Canada
    5th Oct 2026, 15:14 PM

    The contract is for the supply of mission-critical aerospace engine components

    Read More
  • Bharat Forge, Pratt & Whitney Canada collaborate for India's Indigenous HALE UAV programme
    16th Sep 2026, 10:21 AM

    Pratt & Whitney Canada will evaluate engine compatibility, performance and installation requirements

    Read More
  • Bharat Forge’s arm signs MoU with FN Herstal
    4th Sep 2026, 12:46 PM

    MoU aims to pursue local manufacturing and industrial cooperation in support of India's defence requirements

    Read More
  • Bharat Forge’s arm inks pact with Thales for 70-mm rocket systems
    3rd Sep 2026, 18:00 PM

    Kalyani Strategic Systems and Thales have signed a Strategic Alliance Agreement

    Read More
  • Bharat Forge’s arm sells entire stake held in REFU Drive GmbH
    2nd Sep 2026, 15:38 PM

    Kalyani Powertrain has sold its entire 50% stake held in REFU Drive GmbH to REFU Elektronik GmbH

    Read More
  • Bharat Forge - Quarterly Results
    11th Aug 2026, 00:00 AM

    Read More

Source: www.accordfintech.com | DISCLAIMER: Information is provided " as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed.